News

Santander today announced the creation of a new division which will integrate its private banking and asset management businesses. The new Wealth Management division will be led by Victor Matarranz, until now head of Group Strategy. The new structure will enable the Group to provide better service to Santander’s global private banking customers and build on its competitive advantage in 10 major markets.

Bankia provided nearly €5.7 billion to help finance the foreign trade activities of Spanish companies during the first six months of the year, a year-on-year increase of 22.4% compared to €4.655 billion for the same period last year.

Bankia’s inclusion on the DJSI in 2016 was an important achievement for the firm, which has risen up the rankings after making improvements in certain areas. Analysts consider the index to be the most prestigious in the world.

The transaction will lead to higher revenues in both net interest income and in fees and commissions
Goirigolzarri said that these potential revenue synergies “are not included in the profitability calculations of the transaction”.

The Chinese payment firm announced this week that Spanish retailers will now support Alipay capability in their stores thanks to an agreement between it and Spanish bank BBVA.

Spanish bank Santander will acquire smaller rival Banco Popular which has suffered a sharp fall in its share price in the last week over fears about its liquidity situation.

The second largest bank in Spain, Banco Bilbao Vizcaya Argentaria (BBVA) has announced the successful completion of its first cross-border payment using blockchain technology from Ripple.

The e-commerce giant says its payment platform “can help reduce the time customers spend at the checkout to pay for goods and services by removing the need to remember multiple passwords while shopping online”.

Santander InnoVentures, the fintech venture capital fund of Santander Group, announced today its investment in the U.S. based financial PayJoy, which is headquartered in San Francisco and has offices in Mexico. This is the 15th investment made since InnoVentures was founded three years ago with $200 million in funding.

Banco Santander was again included in this year´s Dow Jones Sustainability Index (DJSI), the international benchmark that measures the sustainable behavior of companies in the economic, environmental and social arenas.